Binance Learn & Earn UMA Quiz Answers
Binance Learn & Earn UMA Quiz, Binance Learn & Earn UMA Quiz Answers – Hi Coolz Readers!! Hope you are reading our daily posting of amazon quiz answers & amazon funzone stars quiz answers. In between, Binance the popular crypto platform of the world has announced another learn & earn UMA quiz program for all users.
There will be 3 Quizzes (BAND, UMA, BTTC) on 04th August 2022 in Binance learn & earn. we have already posted the Binance learn & earn BAND quiz answers & Binance Learn & Earn BTTC Quiz answers. Here is all details about Binance UMA Quiz & we have updated all correct answers of Binance UMA Quiz.
We have already posted each & all Binance Learn & earn quiz answers in 1 post. must check out that one too.
Meanwhile , Binance has announced next chapter of “Binance Learn & Earn UMA quiz“, where users can gain knowledge about UMA coin and earn up to $10 in crypto by completing course and quiz of UMA.
UMA is an optimistic oracle that can resolve disputed incorrect or imperfect information that is being recorded to the blockchain by incentivizing human verifiers to validate the data.
Binance Learn & Earn UMA Quiz
| Binance Learn & Earn UMA Quiz | Details |
|---|---|
| Quiz about : | UMA Token |
| Quiz Date : | 04th August 2022 |
| Quiz Time : | 2022-08-04 07:00 (UTC) |
| Number of Questions : | 10 |
| Number of winners : | 1st come 1st serve |
How to Participate in Binance Learn & Earn UMA Quiz
- First of all update your Binance app from Playstore to latest version of visit this Binance Learn & earn quiz webpage directly
- New Users of Binance can create new account from here
- Login into your Binance account
- Go to homepage & you will see this learn & earn UMA quiz banner
- Click on that
- New chapter of learn & earn UMA quiz will live from 12.30 PM IST
- start the quiz at same time & solve using below already solved Binance UMA Quiz answers
Binance Learn & Earn UMA Quiz Answers
Question 1: What makes the OO optimistic?
Answer is : Proposed data will not require resolution unless it is disputed, and disputes are rare
Question 2: How many tokens did UMA transfer to its DAO in 2021?
Answer is : 35 million tokens
Question 3: Who are the three actors in the OO system?
Answer is : The contract requesting the data; the participant proposing the data; and the disputer
Question 4: Why is there a reward associated with voting correctly?
Answer is : So there is an incentive to be correct
Question 5: Why does the OO include a human component?
Answer is : Humans can provide any kind of knowable truth to a blockchain
Question 6: What are the phases in the UMA voting process?
Answer is : Voting period; voting revealing period; reward collection period
Question 7: What is the DAO tooling organization that is a sister protocol to UMA and Across and is secured by the OO?
Answer is : Outcome.Finance
Question 8: How long does it typically take for the OO, through its UMA token holders, to resolve a dispute?
Answer is : 48 hours
Question 9: What is UMA’s native token?
Answer is : UMA coin
Question 10: What is the cross chain bridge empowered by UMA and its OO?
Answer is : Across
Questions will be in different order in your accounts.
If anything change in this question , we will update correct questions on Our Telegram channel
Details About UMA Tokens (Useful in Binance UMA Quiz)
UMA was co-founded in 2017 by Hart Lambur. In December 2018, the UMA project white paper was unveiled, and shortly after, the developers announced an official launch of the UMA project and introduced the USStocks token as the first product on the core network. UMA held an initial liquidity offering in April 2021, the first-ever initial offering of a decentralized exchange on Uniswap.
UMA, which stands for Universal Market Access, is an optimistic oracle that secures markets and smart contracts across Web3. Due to imperfect or inaccurate information, off-chain data needed to meet conditions for smart contracts may be insufficient or incorrect. Current oracles are too rigid as they feed singular values and are unable to account for other forms of data. To accomodate imperfect information, OOs incentivize people to verify the accuracy of data, facilitating advanced data verification with a human element.
How UMA Token works?
There are three actors in UMA’s Optimistic Oracle system: the contract requesting the data, the participant offering the data, and a potential disputant, who can dispute data if they disagree.
Request : UMA’s OO incentivizes its network of token holders to ensure that accurate data is supplied on-chain. The OO can provide any data through its community of token holders, adding a human element to its data verification process.
Propose : Typically, the contract asks for data and specifies a dispute period (which can range from a few minutes to a few days). The proposer posts a bond and offers a data point, which is up to being disputed. After the dispute period has passed, the data is assumed to be true and is delivered to the blockchain, and the proposer gets their bond back. Within the dispute period, someone may feel that the data is inaccurate and challenge it.
Terms and Conditions Of Binance UMA Quiz :
- Illegally bulk registered accounts and sub-accounts shall not be eligible to participate or receive any rewards.
- Rewards are limited and are available on a first-come, first-served basis. Users can only claim the reward for each course after completing the respective quiz.
- There will be caps imposed on the amount of rewards available to eligible users per country/region.
- Eligible users may complete multiple quizzes to claim multiple rewards.
- The actual value of the reward received is subject to change due to market fluctuation.
- Rewards will be distributed within 48 hours to qualified learners who pass the quiz. Users may check their rewards via Account > Reward Center.
- Binance reserves the right to terminate the activity at any time without prior notice.
- Binance accounts can only be used by the account registrants. Binance reserves the right to suspend, freeze or cancel the use of Binance accounts by persons other than account registrants.
- Binance reserves the right of final interpretation of the activity. Binance reserves the right to change or modify these terms at its discretion at any time.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
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